Climate Change Data

Microserfin

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:109 tCO2e
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:330,508 kWh
Water Consumption:192 m3
Waste Generated:3,099 kg of paper
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Reduced carbon footprint through efficient resource use (energy, water, paper), promoting recycling, and installing renewable energy sources.
  • Implemented a green credit product supporting renewable energy and efficient irrigation solutions.

Social Achievements

  • Reached 24,982 people with financial education.
  • Provided 221 Casafin credits for housing improvements, benefiting 7% of entrepreneurs who exceeded twice the average salary in the first year.
  • Offered free internet access in 28 offices, reaching over 60 entrepreneurs through the Impulsamos tu negocio platform and 100 through the Microserfin app.
  • Provided 12 motorcycles with 0% financing, 10 university scholarships, and 23 scholarships for children of employees.
  • 93% penetration of microinsurance among credit clients.

Governance Achievements

  • Updated the Code of Conduct in December 2023, including sections on diversity, inclusion, risk management, and compliance.
  • Launched a virtual course to promote the use of the Responsible Attitude Channel.
  • Established an ESG committee in 2023 to oversee environmental, social, and governance practices.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • High levels of poverty and income inequality in Panama, particularly in rural and indigenous areas.
  • Economic vulnerability of micro-entrepreneurs, with unstable incomes and difficulty covering expenses.
  • Digital poverty affecting access to technology and digital skills.
  • Vulnerability to climate change impacts, such as droughts and floods.
  • High levels of informal employment.
Mitigation Strategies
  • Providing financial and non-financial services to vulnerable entrepreneurs.
  • Offering financial education and training programs.
  • Developing products like Casafin to improve housing conditions.
  • Providing free internet access and digital training.
  • Financing climate-resilient solutions (renewable energy, efficient irrigation).
  • Implementing microinsurance products to mitigate risks.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Droughts
  • Floods
Transition Risks
  • Not disclosed
Opportunities
  • Financing climate-resilient solutions

Reporting Standards

Frameworks Used: GRI, SASB, TCFD

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Casafin credit product

Awards & Recognition

  • Not disclosed